Date: April 18, 2022

Switching Financial Advisors: Finding A Pro in Connecticut

People hear the words “wealth management” and imagine somebody shuffling piles of gold coins around. Similarly, if they hear someone is “changing investment advisors,” they think it means swapping stock market coaches.

The second one is right—because we do provide investing insights—but that’s only a small corner of the larger picture. My goal is to improve your overall financial life. 

Of course, this can happen through run-of-the-mill investing. However, it is more often due to interwoven fiscal strategies, like retirement investing, budgetary re-balancing, and estate planning. You’d be surprised how much that can lower your stress.


Solid Wealth Management Can Improve Your Life. 

Are You Ready for the Difference?


“It’s so much more than investment advice.”

You don’t simply bring me your bank statements and leave. Mine is not a drop-it-off-and-come-back kind of service. 

I do go over the financial information you provide, but I do this similarly to how a physician goes over your form during a visit. Just as they note symptoms in order to improve patients’ health, I look at your financial data. It’s the first phase of any treatment plan. 

My overarching concern is you—and getting your funds and assets into the best shape possible. If peoples’ finances were just numbers to me, I wouldn’t bother keeping a brick-and-mortar office open. 

I’m in this to help improve how you live. As a result, I can serve as a guide, an educator, a financial counselor, and sometimes more on a typical day. 

Much of my job centers around peoples’ relationships with money. This isn’t always where their trouble resides, but it can be. 

The truth is that even brilliant people don’t always have the monetary skills and concepts necessary for achieving their best financial outcomes. That’s nothing to be ashamed of, but it’s certainly not ideal.

Thankfully, it’s entirely fixable. A financial advisor’s job is to provide expertise. So, in regard to money matters, budgets, and investments, I’m my clients’ go-to guy. 

At the same time, whenever I can, I try to empower them to understand their funds and assets better. Much like a doctor wants patients to take good care of themselves, I like seeing clients make informed decisions about their finances. 

I love seeing that I-get-it-now light in their eyes. It makes me happy for them, but in all honesty, it makes my job easier, too.  

If I can help someone understand things enough to actively work with me on their financial plans, we’ve reached the sweet spot. That’s the ideal scenario because we can accomplish more using less effort.


Get A No-Obligation 2nd Opinion, Then Switch Advisors If You Choose.

Paul Offers A 6-Month Free Trial! 


Performing Financial First Aid

Sometimes being an advisor means batting cleanup. Before someone can be honed into a capable investor, I may have to help them out of traps they’ve made for themselves. 

One of the most self-destructive behaviors I see is people trying to time the market based solely on their emotions and what the latest pundit said on TV. It’s human nature to want to be that clever investor who beat the odds. 

Regardless, in reality, the odds of success are lower than most people understand. It is incredibly difficult to catch once-in-a-lifetime breaks on a consistent basis.

If it wasn’t, you’d see fewer financial professionals at work—and more yachts docked at the shore.

Diversifying your portfolio and strategies is a much more predictable process. Nevertheless, people feed their lunches to the market by failing to. 

Others do it by forgetting to re-balance their assets or overlooking fee-to-expense ratios. Not addressing tax implications is a bit more understandable, but that can be just as disastrous. 


Financial Security May Not Cost What You Think.


Plotting High Net Worth Investing Strategies

Once someone realizes the changes they need to make, things can start to look up. This almost never happens overnight, but it’s a solid step in the right direction. 

With a client out of the monetary ER, we can work toward (eventually) building long-term investing muscle. Statistically, depending upon who you ask, a good financial advisor may increase your returns anywhere from 3% to 3.75%. 

If your current fiduciary’s investment management consistently underwhelms, consider switching financial advisors. Pros typically achieve results through effective planning, timing account withdrawals, re-balancing, tax planning, and allocating investable assets. 

On the other hand, there’s a lot to be said for addressing how people view their finances. Empowering them means more than just explaining fundamentals or suggesting good reads. 

Especially during market volatility, it can include something called “behavioral coaching.” That doesn’t mean that we ever forget that your funds are your money, though.

The point is to gently, steadily encourage you to make financial decisions from your head rather than from your heart or gut. For instance, let’s say that there’s suddenly a trendy new IPO talking heads are raving about on business news. 

You might come to me, buzzing with adrenaline, and shout, “Put everything into Nose Braids, Inc now!” 

I won’t stamp my feet, refusing. However, I definitely will ask how much research you’ve done on this company. 

Next, I’ll try to convince you to sit down with me so we can look them up together. You don’t have to think of me as your friend, but as your fiduciary, I’m obligated to treat you as a friend of mine.

In other words, I’m going to tell you what you need to hear rather than what you want me to say. I won’t boss you around, but I absolutely will try to get you to pause and consider your finances logically. 


What Can I Do For You?

If you couldn’t tell already, I would enjoy helping you reach your financial goals in the shortest possible time. Whether that means retirement planning, safeguarding your nest egg, expanding your portfolio, or planning your legacy, my team has more than enough experience and talent. 

That isn’t the only way you can benefit, though. As an advisor, I have been an exchange-traded fund (ETF) specialist since 1994. Exchange-traded funds can offer the diversification of a mutual fund, but they trade as easily as regular stocks and bonds on an exchange. And they can also be more cost-effective and tax-efficient.

If you’re hesitant to commit, that’s not a problem: We only operate month-by-month—because we prefer clients who want to stay with us. 

Have you been searching for “financial advisor Connecticut?” If you’re wondering how to switch financial advisors, you can get a second opinion in New Haven. Reach out and contact us today.


“Got  SERIOUS $? Time For Expert Wealth Management.”

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Paul Schatz, President, Heritage Capital